TIINDIA · Automobile and Auto Components
Tube Investments of India Ltd. reported revenue of ₹4,812 cr for October to December 2024, +14.7% on the year and −2.3% on the quarter.
Operating profit (EBITDA) was ₹491 cr, a margin of 10.2%, −97 bps on the year and +25 bps on the quarter. Over the last 7 quarters the margin has ranged from 9.9% to 13.1%, averaging 11.1%. Operating costs grew +15.9%, faster than revenue at +14.7%, so operating profit grew less than sales.
Net profit was ₹280 cr, −66.2% on the year and −6.4% on the quarter, with earnings per share of ₹10.01. Profit before other income, one-offs and tax grew faster, at +3.6%; other income, one-offs or tax held the headline back. The tax rate was 34% against an average of 27% over the previous 6 quarters, which weighed on profit this quarter.
A vehicle maker's revenue is volumes times average price, and its margin moves with steel, aluminium and rubber costs and with the share of exports and premium models. The quarterly statements do not carry volumes, realisation per vehicle and the export share; those come with the filing read.
On earnings per share of ₹42.31 over the last four quarters, the stock at ₹2,322.50 trades at 54.9 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Core profit grew faster than reported profit: one-offs held the headline down.
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹4,197 cr | ₹4,490 cr | ₹4,578 cr | ₹4,925 cr | ₹4,812 cr | ₹5,150 cr | ₹5,309 cr | ₹5,523 cr | ₹5,801 cr | ₹6,215 cr | ₹6,215 cr | ₹7,330 cr |
| YoY | — | — | +17% | +14% | +15% | +15% | +16% | +12% | +21% | +21% | +17% | +33% |
| EBITDA margin | 11.2% | 10.0% | 11.6% | 9.9% | 10.2% | 6.5% | 10.3% | 9.9% | 10.1% | 9.4% | 8.8% | 10.0% |
| Other income, % of PBT | 64% | 19% | 13% | 17% | 18% | 45% | 16% | 20% | 11% | 22% | 24% | 17% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 12% | 31% | 32% | 30% | 34% | 53% | 32% | 34% | 37% | 53% | 36% | 35% |
| Net profit | ₹828 cr | ₹274 cr | ₹317 cr | ₹299 cr | ₹280 cr | ₹158 cr | ₹303 cr | ₹302 cr | ₹279 cr | ₹234 cr | ₹294 cr | ₹421 cr |
| YoY | — | — | +12% | −14% | −66% | −42% | −4% | +1% | −0% | +48% | −3% | +39% |
| Core profit YoY | — | — | +16% | −19% | +4% | −43% | −7% | +3% | +13% | +113% | −7% | +45% |
| EPS | ₹27.58 | ₹9.88 | ₹11.73 | ₹10.69 | ₹10.01 | ₹2.40 | ₹10.28 | ₹9.65 | ₹8.57 | ₹4.41 | ₹8.71 | ₹12.87 |
| Flags | 2 | · | ✓ | 1 | ✓ | 2 | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Tube Investments of India Ltd. reported revenue of ₹4,812 cr (+14.7% on the year) and net profit of ₹280 cr (−66.2% on the year) for October to December 2024.
Profit before other income, exceptional items and tax moved +3.6% on the year, against −66.2% for reported profit.
None of the 7 checks that could run raised a question.
No. FinMinutes reports what was filed and the questions the numbers raise. It does not recommend buying, selling or holding any security.
Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.